CROCS (CROX) Lower on Cautious Barron's Article
Shares of CROCS Inc. (Nasdaq: CROX) are 2.5% lower in pre-open action following a cautious report in this weekend\'s Barron\'s. The article said the stocks valuation leaves little room for missteps in a notoriously fickle footwear business.
The article said the average footwear company sells for 19 times earnings, while Crocs sells for 30 times this year\'s earnings. Another hot footwear company, Decker Outdoor (Nasdaq: DECK), sells at 24 times earnings. If Crocs were to trade at 25 times earnings, it shares would trade for around $38 per share, 22% below the current levels.
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